Weekly News & Capital Markets Perspective

So . . . any thoughts on the Fiscal Cliff? As we approach Election Day and the end of the year, this topic seems to be gaining its share of the national media attention. This so-called cliff – the point in early 2013 when a vast array of policies end some Bush-era tax cuts and force billions in mandated federal spending cuts unless a compromise between the president and Congress can be reached – could potentially force the economy into a deeper recession than the Great Recession, at least according to some. According to others, the cliff could be more like a gently-sloping hill. Once again, as is the case with most economic phenomena, no one really knows for sure. But I do know that we are taught at an early age to worry about only the things we can control and react with a positive attitude to those issues we cannot control.

While we are keenly aware of the policies and conditions that impact our economy and our business, my partners and I are focused on assisting our clients. Whether it is bringing a new listing to market, transitioning a property from letter of intent to under contract, or helping guide a transaction to a successful closing prior to year-end, we are focused on the tasks we can control, or at least influence. We are busy not letting the macro–level issues distract us from our daily business. And hopefully by year-end, we can report the details on several successful transactions. In the meantime, as my partner, Jim O’Connell, urged in his post last week, please get to the polls on Tuesday and exercise your right to vote. It’s a small form of having some control in the direction of our great country.